Componenta Corporation Stock Exchange Release on 31.1.2017 at 11.00
Proposal for the Annual General Meeting
The Nomination Board of Componenta Corporation proposes to the Annual General Meeting 2017 that the number of Board members will be four. The Nomination Board proposes that the current members of the Board of Directors Olli Isotalo and Tommi Salunen are re-elected and Petteri Walldén and Anne Leskelä are elected as new Board members. The chairman of the Board of Directors Matti Ruotsala, the Vice Chairman of the Board Olavi Huhtala and the Board members Riitta Palomäki and Perttu Louhiluoto have notified Componenta’s Nomination Board that they are not available for re-election.
All the nominees are independent of the company and of the significant shareholders of the company, and they have given their consents to the position. When preparing its proposal the Nomination Board has taken into consideration the company’s Board of Directors’ diversity policy. The proposed members of the Board of Directors have comprehensive knowledge about businesses and development of internationally operating companies. Both genders are represented, they have relevant industrial experience and their experiences of different functions (including production, sales, financing and finance) are complementary and cover the key functions of an industrial and stock exchange listed company.
The Nomination Board of Componenta proposes that the members of the Board of Directors, who will be elected to the term continuing to the annual general meeting 2018, will be paid annual remuneration as follows: EUR 50,000 to the Chairman and EUR 25,000 to the members of the Board of Directors. If the Board of Directors decides to establish committees, an annual fee of EUR 5,000 will be paid to the members of Board committees. Travel expenses of the members of the Board of Directors will be compensated in accordance with the Company’s travel policy.
Proposed new Members of the Board of Directors
Petteri Walldén is inter alia Chairman of the Board of Directors in Nokian Tyres plc, Vice Chairman of the Board of Directors in Tikkurila Oyj and Member of the Board of Directors in Kuusakoski Group Oy. Previously, he has worked as CEO e.g. at Alteams Oy, Onninen Oy and Ensto Ltd.
Anne Leskelä is Vice President, Finance & IR at Nokian Tyres plc. Previously, she has worked in several finance and financing positions at Nokian Tyres as well as at Suomen Säästöpankki Oy.
The Nomination Board
The Nomination Board consists of Erkki Etola, shareholders Etra Capital Oy and Tiiviste-Group Oy, Mikko Mursula, shareholder Ilmarinen Mutual Pension Insurance Company and Timo Sallinen, shareholder Varma Mutual Pension Insurance Company. In addition, the Chairman of the Board of Directors, Matti Ruotsala acts as an expert member of the Nomination Board. Timo Sallinen is chairman of the Nomination Board.
Helsinki, 31 January 2017
COMPONENTA CORPORATION
Harri Suutari
President and CEO
For further information, please contact:
Timo Sallinen
Chairman of the Nomination Board
Tel. +358 10 244 7645
Componenta is a metal sector company with international operations and production plants located in Finland, Turkey and Sweden. The net sales of Componenta were EUR 495 million in 2015 and its share is listed on Nasdaq Helsinki. The Group employs approx. 3,500 people. Componenta specializes in supplying cast and machined components and total solutions made of them to its global customers, who are manufacturers of vehicles, machines and equipment.